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Gold Inches Higher As Yields Retreat

Indivior FY20 Adj. Net Income Declines; Revenue Down 18%

Indivior PLC (INDV.L) reported a fiscal 2020 net loss of $148 million compared to net income of $134 million, prior year. Loss per share in cents was 20 compared to profit of 18. Adjusted net income declined to $59 million from $176 million. Earnings per share in cents was 8 on an adjusted basis compared to 23, last year.

Fiscal 2020 total net revenue decreased 18% to $647 million from $785 million, previous year. This decline mainly reflected SUBOXONE Film share loss, partly offset by higher NR from SUBLOCADE injection.

For fiscal 2021, Indivior projects positive adjusted pre-tax income.

Hochschild Mining FY Profit Down

Hochschild Mining (HOC.L) reported that its profit from continuing operations for the year ended 31 December 2020 declined to $15.16 million or $0.03 per share from $28.95 million or $0.06 per share in the prior year.

Adjusted EBITDA decreased by 21% to $270.9 million from the previous year primarily due to the fall in revenue resulting from the operational stoppages due to the Covid crisis and in spite of significantly increased precious metal prices.

Gross revenue from continuing operations decreased by 18% to $641.4 million from the prior year’s $780.3 million due to the effects of the production stoppages during the year resulting from the Covid-19 crisis. This was partially offset by a strong rise in average realised precious metal prices.

Net revenue declined to $621.8 million from $755.7 million last year.

The company expects attributable production in 2021 to be between 360,000 and 372,000 gold equivalent ounces; 31.0 to 32.0 million silver equivalent ounces.

Airbus sees stable aircraft deliveries after 2020 loss

European planemaker Airbus restored business targets after generating cash in the fourth quarter, but withheld a dividend as it posted a pandemic-driven loss for 2020.

Airbus, which has overtaken U.S. rival Boeing to become the world's largest jetmaker following a 20-month safety grounding of the Boeing 737 MAX, predicted flat 2021 deliveries and a core operating profit of 2 billion euros ($2.4 billion).

The France-based maker of jetliners and helicopters posted a full-year operating loss of 510 million euros. On a widely watched adjusted basis, operating profit slumped 75% to 1.7 billion euros as plunging demand for air travel drove revenues down 29% to 49.9 billion.

Teck Resources Q4 Adj. Profit Rises

Teck Resources Ltd. (TCK_A.TO,TCK) reported fourth quarter adjusted earnings per share of C$0.46 compared to C$0.40, prior year. Adjusted profit attributable to shareholders increased to C$248 million from C$223 million. Fourth quarter revenues declined to C$2.56 billion from C$2.65 billion, last year.

Don Lindsay, CEO, said: “In the fourth quarter we delivered the strongest quarterly financial results of 2020, while also outperforming the same period in 2019. As of the end of the year we achieved our target of forty percent overall completion of our QB2 Project which, when operating at full capacity, will double our total consolidated copper production.”

Hillary Clinton Responds To Demolition Of Trump Casino With A Mocking Emoji

The former Trump Plaza Hotel and Casino came tumbling down in Atlantic City, New Jersey, on Wednesday in a controlled demolition.

And Hillary Clinton was there for it.

The former secretary of state responded to the implosion of the entertainment venue once owned by her 2016 election rival with a single emoji.

Clinton virtually waved goodbye:

Clinton’s response immediately went viral.

“Schadenfreude? Yeah, me too,” one person wrote on Twitter.

Added another: “This is therapeutic.”

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Hecla Mining Co. Q4 adjusted earnings Inline With Estimates

Below are the earnings highlights for Hecla Mining Co. (HL):

-Earnings: $0.66 million in Q4 vs. -$8.11 million in the same period last year.
-Excluding items, Hecla Mining Co. reported adjusted earnings of $13.04 million or $0.02 per share for the period.
-Analysts projected $0.02 per share
-Revenue: $188.89 million in Q4 vs. $224.95 million in the same period last year.

Primary Health Properties Swings To Profit In FY20

Primary Health Properties plc (PHP.L) reported a profit for the full year 2020 on increased rental income led by strong demand on health systems around the world.

The company’s IFRS profit for the year amounted to £112.0 million or 8.8p per share compared to a loss of £71.3 million or 6.5p per share last year.

Adjusted earnings increased 22.4% to £73.1 million from £59.7 million a year ago. On a per share basis, earnings rose 5.5% to 5.8p from the previous year’s 5.5p.

Net rental income receivable in the year increased by 13.4% to £131.2 million from £115.7 million in the previous year.

Harry Hyman, Chief Executive, said, “We have continued to support the NHS in the UK, HSE in Ireland and our GP occupiers throughout the COVID-19 pandemic which has highlighted the demands on health systems around the world. Many of our primary care facilities and occupiers are now in the front-line of delivering Covid-19 vaccines. We continue to see demand for extra space to help enable the redirection of activities out of hospitals…”

Gold Inches Higher As Yields Retreat

Gold prices were a tad higher on Thursday after hitting a 2-1/2-month low in the previous session on the back of dollar strength and rising U.S. Treasury yields.

Spot gold rose 0.3 percent to $1,781.97 per ounce, after having hit its lowest since Nov. 30 at $1,768.60 on Wednesday. U.S. gold futures were up half a percent at $1,781.

The dollar traded shy of recent highs and U.S. Treasury yields stabilized, helping lift the non-yielding bullion’s appeal.

Benchmark 10-year Treasury yields retreated from a near one-year peak hit on Wednesday after minutes of the Fed’s January meeting showed Federal Reserve officials were still prepared to keep monetary policy easy to help the coronavirus-hit economy.

The dollar also retreated after rising in response to encouraging retail sales, industrial production and producer price data released overnight.

U.S. retail sales surged in January by the most in seven months, beating all estimates, while producer prices increased by the most since 2009, separate reports showed.

Another report on industrial production from the Federal Reserve showed a rise of 0.9 percent in January, trouncing economist forecasts of a 0.5 percent gain.